Can I retire at age 59 with 978,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$80,762$80,043$79,341$78,656$77,987$76,506
2 years$39,981$39,237$38,515$37,815$37,137$35,651
3 years$26,389$25,642$24,922$24,229$23,561$22,116
4 years$19,595$18,849$18,137$17,455$16,804$15,411
5 years$15,519$14,778$14,075$13,407$12,774$11,437
6 years$12,803$12,067$11,375$10,722$10,108$8,829
7 years$10,863$10,134$9,452$8,815$8,220$6,999
8 years$9,410$8,687$8,016$7,395$6,820$5,656
9 years$8,279$7,563$6,904$6,299$5,743$4,636
10 years$7,376$6,667$6,019$5,430$4,893$3,842
11 years$6,637$5,935$5,299$4,725$4,208$3,212
12 years$6,022$5,327$4,703$4,145$3,647$2,704
13 years$5,501$4,814$4,202$3,659$3,180$2,289
14 years$5,056$4,376$3,775$3,248$2,788$1,946
15 years$4,670$3,997$3,409$2,897$2,455$1,662
16 years$4,333$3,668$3,091$2,594$2,169$1,423
17 years$4,036$3,378$2,812$2,331$1,923$1,222
18 years$3,772$3,121$2,567$2,100$1,710$1,051
19 years$3,536$2,893$2,350$1,898$1,524$907
20 years$3,324$2,688$2,157$1,719$1,362$783
21 years$3,132$2,504$1,984$1,560$1,219$677
22 years$2,958$2,337$1,828$1,418$1,092$586
23 years$2,800$2,186$1,688$1,292$980$508
24 years$2,655$2,048$1,561$1,178$881$441
25 years$2,521$1,922$1,446$1,076$793$383
26 years$2,399$1,806$1,341$984$714$333
27 years$2,285$1,700$1,245$900$644$289
28 years$2,180$1,602$1,158$825$581$252
29 years$2,082$1,511$1,077$757$525$219
30 years$1,991$1,427$1,004$694$474$190
31 years$1,906$1,349$936$638$429$166
32 years$1,826$1,277$873$586$388$144
33 years$1,751$1,209$815$539$351$126
34 years$1,681$1,146$762$496$318$110
35 years$1,615$1,087$712$456$288$96
36 years$1,553$1,032$666$420$261$83
37 years$1,495$980$623$387$236$73
38 years$1,439$931$584$357$214$63
39 years$1,387$885$547$329$194$55
40 years$1,337$842$513$304$176$48
41 years$1,290$802$481$280$160$42
42 years$1,245$764$451$259$145$37
43 years$1,203$728$423$239$132$32
44 years$1,162$694$397$220$119$28
45 years$1,123$661$373$204$108$24
46 years$1,087$631$350$188$98$21
47 years$1,051$602$329$174$89$18
48 years$1,018$575$309$160$81$16
49 years$986$549$291$148$74$14
50 years$955$524$273$137$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $978,000, adding $5,215 every year, while hoping to spend $51,044 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 49/24/27 Blend
58$978,000$978,000$978,000$978,000
59$1,083,135$1,031,301$1,016,142$1,127,680
60$1,139,305$1,027,525$995,873$1,155,629
61$1,199,493$1,021,852$973,213$1,180,499
62$1,264,055$1,014,137$948,030$1,206,517
63$1,333,382$1,004,224$920,183$1,233,815
64$1,407,904$991,947$889,525$1,262,542
65$1,488,089$977,132$855,904$1,292,866
66$1,574,456$959,593$819,158$1,324,975
67$1,667,572$939,134$779,121$1,359,078
68$1,768,060$915,547$735,617$1,395,413
69$1,876,605$888,612$688,464$1,434,241
70$1,993,960$858,096$637,469$1,475,857
71$2,120,953$823,751$582,432$1,520,592
72$2,258,492$785,317$523,146$1,568,811
73$2,407,578$742,517$459,392$1,620,925
74$2,569,311$695,061$390,941$1,677,390
75$2,744,900$642,637$317,556$1,738,715
76$2,935,674$584,921$238,989$1,805,468
77$3,143,097$521,567$154,980$1,878,279
78$3,368,780$452,210$65,258$1,957,850
79$3,614,491$376,465$0$2,044,962
80$3,882,182$293,924$0$2,149,267
81$4,173,996$204,158$0$2,283,579
82$4,492,294$106,711$0$2,430,237
83$4,839,673$1,106$0$2,590,522
84$5,218,994$0$0$2,765,852
85$5,633,404$0$0$2,987,676
86$6,086,369$0$0$3,230,560
87$6,581,705$0$0$3,496,269
88$7,123,613$0$0$3,787,070
89$7,716,718$0$0$4,105,460
90$8,366,115$0$0$4,454,186
91$9,077,413$0$0$4,836,277
92$9,856,789$0$0$5,255,066
93$10,711,045$0$0$5,714,225
94$11,647,675$0$0$6,217,796
95$12,674,930$0$0$6,770,234
96$13,801,900$0$0$7,376,445
97$15,038,596$0$0$8,041,833
98$16,396,045$0$0$8,772,349
99$17,886,395$0$0$9,574,550
100$19,523,026$0$0$10,455,660